Regulator Approves Ramco's Bid to Solely Own Kenyan Subsidiary after Amethis' Exit
The Competition Authority of Kenya (CAK) has approved the acquisition of investment holding company Ramco Plexus by its parent company Ramco Inc. “As per the parties’ submissions, this transaction will [...]
Consumers Dig Deeper For Food Items Despite Inflation Easing to 2.7% in October-KNBS
Consumers are paying more to buy items such as cooking oil, tomatoes, oranges, carrots, mangoes and beef whose prices have shot up, despite a significant reduction in inflation in October. [...]Carbacid Profits Up 3.3% Amid Controversial BOC Kenya Buyout Bid
Liquefied carbon dioxide manufacturer Carbacid Investments has posted KSh 843.3 million in profit after tax for the full year ended in July 2024 a 3.3% increase from KSh 816.0 [...]Kenya Unlocks Access to $606 Million After IMF Board Approval
Kenya has secured access to approximately $606 million following the IMF Executive Board's completion of the seventh and eighth reviews under the Extended Fund Facility (EFF) and Extended Credit Facility [...]
Over 270 National Bank Staff to Lose Jobs in Merger with Access Bank
Access Bank Plc will retain at least 80 per cent of National Bank of Kenya (NBK) employees for at least one year as a condition by the Competition Authority for [...]Google Adds 15 More African Languages on Voice Search
Google has added 15 more African languages on Voice Search, typing with voice on Gboard and voice input on Translate. “The next decade is set to be Sub-Saharan Africa’s digital [...]Data Regulator Orders WPP Scangroup to Pay Former CEO KSh 1.95mn
The Office of the Data Protection Commissioner (ODPC) has ordered listed marketing and communications conglomerate WPP Scangroup to pay former CEO Bharat Thakrar Ksh 1.95 mn, in the latest in [...]
Kenya Power KenGen Stocks Soar After Record Profits, Dividends
Kenya Power and Kengen have seen their price gain 49.7% and 31.1% respectively in a single day, hours after delivering stronger than expected results for the year ended June 2024. [...]KenGen’s Profits Surge 35.5% to KES 6.8 Billion
Kenya Electricity Generating Company (KenGen) has posted strong full-year results for the financial year ending June 30, 2024, with after-tax profits rising by 35.5% to KES 6.8 billion. KenGen’s gross [...]China's Hexing Group to Invest KSh 1.29bn in Nairobi Assembly
Hexing Group, a Chinese manufacturer of power products, will investUS$10 million (KSh 1.29 billion) to establish a Nairobi-based assembly line for imported power products. “Hexing is excited to expand our [...]Retail Outlets Record Higher Sales Despite Economic Climate-ILAM Consumer Index
Most businesses in key towns reported increase in sales in third quarter of the year with retail stores and leisure outlets leading the pack, according to the ILAM Consumer Spending [...]Kenya Power's Profits Soar Tenfold as Electricity Sales Rise by 21%
The strength of the Kenyan shilling for the most part of the year significantly reduced Kenya Power Lighting Company's (KPLC) finance costs, enabling the utility company to record a [...]
